Skandinaviska Enskilda Banken AB publ Buys Shares of 82,300 Rocket Lab Corporation $RKLB

Skandinaviska Enskilda Banken AB publ purchased a new position in Rocket Lab Corporation (NASDAQ:RKLBFree Report) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 82,300 shares of the rocket manufacturer’s stock, valued at approximately $3,945,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new position in Rocket Lab in the third quarter worth approximately $25,000. Hara Capital LLC bought a new stake in Rocket Lab during the 3rd quarter valued at $25,000. UMB Bank n.a. increased its holdings in shares of Rocket Lab by 352.5% in the 3rd quarter. UMB Bank n.a. now owns 543 shares of the rocket manufacturer’s stock valued at $26,000 after acquiring an additional 423 shares during the period. Sound Income Strategies LLC purchased a new position in shares of Rocket Lab in the 3rd quarter valued at $27,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Rocket Lab by 109.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 796 shares of the rocket manufacturer’s stock worth $28,000 after acquiring an additional 416 shares in the last quarter. 71.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Rocket Lab

In other news, SVP Arjun Kampani sold 28,615 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $40.65, for a total transaction of $1,163,199.75. Following the sale, the senior vice president directly owned 461,014 shares of the company’s stock, valued at $18,740,219.10. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Adam C. Spice sold 1,365,665 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $75.50, for a total value of $103,107,707.50. Following the completion of the transaction, the chief financial officer directly owned 1,359,568 shares in the company, valued at approximately $102,647,384. The trade was a 50.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,290,517 shares of company stock worth $271,240,100 in the last three months. 11.90% of the stock is owned by company insiders.

Analyst Ratings Changes

RKLB has been the topic of a number of recent research reports. KeyCorp downgraded Rocket Lab from an “overweight” rating to a “sector weight” rating in a research report on Thursday, January 15th. Bank of America increased their price target on shares of Rocket Lab from $60.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. The Goldman Sachs Group lifted their price objective on shares of Rocket Lab from $47.00 to $69.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. TD Cowen reiterated a “buy” rating on shares of Rocket Lab in a research note on Thursday, January 22nd. Finally, Needham & Company LLC raised their target price on shares of Rocket Lab from $63.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Rocket Lab currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.92.

Check Out Our Latest Stock Analysis on RKLB

Rocket Lab Stock Performance

RKLB opened at $70.86 on Friday. The company has a market cap of $37.85 billion, a P/E ratio of -186.47 and a beta of 2.16. The company has a quick ratio of 2.83, a current ratio of 3.18 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average price is $76.97 and its 200-day moving average price is $60.10. Rocket Lab Corporation has a 52-week low of $14.71 and a 52-week high of $99.58.

Rocket Lab News Roundup

Here are the key news stories impacting Rocket Lab this week:

About Rocket Lab

(Free Report)

Rocket Lab is an aerospace company that provides launch services, spacecraft, and space systems for commercial and government customers. The company’s primary launch vehicle is Electron, a small-lift orbital rocket designed to deploy small satellites and rideshare payloads to low Earth orbit. Rocket Lab also develops and manufactures the Rutherford engine, noted for its electric-pump-fed design and additive-manufactured components, which powers Electron and supports the company’s propulsion capabilities.

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Institutional Ownership by Quarter for Rocket Lab (NASDAQ:RKLB)

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